Why is effective budgeting critical to a company’s success

Each response must have a minimum of 150 words MUST have references for each response!Quality work! No Plagiarism!

Ch. 21: Budgetary Planning

  1. Why is effective budgeting critical to a company’s success?
  • State the essentials of effective budgeting and the components of the master budget.
  • Apply budgeting principles to nonmanufacturing companies.

Ch. 22: Budgetary Control and Responsibility Accounting

  • What is a flexible budget?
  • What types of organizations might use flexible budgets?
  • Why are flexible budgets useful?

Ch. 23: Standard Costs and Balanced Scorecard

  • What are variances and why do these occur?
  • What factors would you consider when deciding whether to investigate a variance?
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